Short Interest in iShares Expanded Tech Sector ETF (NYSEARCA:IGM) Declines By 72.1%

iShares Expanded Tech Sector ETF (NYSEARCA:IGM) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 159,900 shares, a decline of 72.1% from the May 15th total of 573,800 shares. Based on an average trading volume of 575,800 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On iShares Expanded Tech Sector ETF

Several hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its stake in iShares Expanded Tech Sector ETF by 2.5% during the fourth quarter. Bank of America Corp DE now owns 2,912,934 shares of the exchange traded fund’s stock valued at $297,381,000 after acquiring an additional 70,407 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its stake in iShares Expanded Tech Sector ETF by 2.3% during the first quarter. Signature Estate & Investment Advisors LLC now owns 1,897,988 shares of the exchange traded fund’s stock valued at $172,091,000 after acquiring an additional 42,534 shares in the last quarter. Royal Bank of Canada grew its stake in iShares Expanded Tech Sector ETF by 3.1% during the first quarter. Royal Bank of Canada now owns 1,259,022 shares of the exchange traded fund’s stock valued at $114,155,000 after acquiring an additional 37,750 shares in the last quarter. LPL Financial LLC grew its stake in iShares Expanded Tech Sector ETF by 29.6% during the fourth quarter. LPL Financial LLC now owns 1,161,225 shares of the exchange traded fund’s stock valued at $118,549,000 after acquiring an additional 265,134 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in iShares Expanded Tech Sector ETF by 6.8% during the fourth quarter. JPMorgan Chase & Co. now owns 785,114 shares of the exchange traded fund’s stock valued at $80,152,000 after acquiring an additional 49,750 shares in the last quarter.

iShares Expanded Tech Sector ETF Trading Up 0.4%

Shares of NYSEARCA:IGM opened at $107.45 on Friday. The company has a 50 day moving average of $96.37 and a 200 day moving average of $99.50. The stock has a market cap of $6.39 billion, a P/E ratio of 31.64 and a beta of 1.26. iShares Expanded Tech Sector ETF has a 12 month low of $76.26 and a 12 month high of $108.73.

iShares Expanded Tech Sector ETF Company Profile

iShares North American Tech ETF, formerly iShares S&P North American Technology Sector Index Fund (the Fund), is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, of the United States-traded technology companies, as represented by the S&P North American Technology Sector Index (the Index).